• More confident that inflation trajectory might lead us to 2% target
• If rates are maintained for a sufficiently long period, we could get there
• Market has understood very well our communication
• Growth risks skewed to the downside
• It is premature to discuss rate cuts

They are trying to sell the story they are right in pausing on rate hikes but I guess time will tell. We’ll see how confident they can still try to be if the economy takes a worse turn in the months ahead.

This article was written by Justin Low at www.forexlive.com.